I keep reading about "child tax credits" to help parents with the costs incurred in raising children. How about "elderly tax credits" for the costs incurred for caring for an elderly parent or partner. Of course, it would be asking TOOO much to extend that to caregivers in general, especially those caring for an elderly person either distantly related or a close friend, since it seems the government only recognizes those who are are married vs single. But that's a topic for another day.
Aside from unforeseen, unavoidable and "bad luck" events in some people's lives, a main reason why receiving and giving care becomes a burden is because people are in denial and they don't plan and save. There are other factors, like the cost of medical care, and people who choose unhealthy habits, but mostly many people just don't plan early enough.
My mom (the daughter of immigrants) was a single parent the entire time she was raising me (an RN who worked FT). She never received a penny of child support. YET she went on to own her own home (a humble home, later in life and paid cash for it), owns her car, has no other debt and lives comfortably on her savings. Because of clean living and the luck of the draw, she is a very healthy 92-yr old. She has good financial means right now but if she has a profound medical issue, she will burn through her savings pretty fast. Most people's life savings are used up in the last 18 months of their lives. At some point if she requires Medicaid, so be it. This is what it's for (also funded by taxes).
Creating an adult care tax credit will require management by the government. Our large and inefficient government. Everyone else's taxes will go up to fund yet another program. IMO we should be lobbying for more transparency in medical and care costs so that there is accountability and we can vote with our wallets. The cost is outrageous.
The thing about the child tax credits is that the parents getting them aren't actually providing for and supporting their kids. Someone else is.
Parents who work and provide for their kids without state assistance, claim their kids as dependents because they are actual dependents.
When some parent has a part-time job but their rent, utilities, food, medical insurance, and childcare are paid for by the state they should not be entitled to collect because they don't actually pay taxes.
But that's a different discussion entirely.
There should be family caregiver tax credits.